Russia may allocate Cuba a loan of €1.2 billion for the construction of four units

MOSCOW, October 20. The Russian government has approved a draft agreement under which Russia is to grant Cuba a loan of €1.2 billion for the construction of power units at thermal power plants “MAXIMO Gomez and East Havana.”

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The document was published Tuesday on the official portal of legal information.

“The Russian side provides the Cuban side of the state export loan of up to €1,2 billion to Finance the construction of one power unit of 200 MW at thermal power plant “MAXIMO Gomez” and three units with unit capacity of 200 MW in thermal power plants “Eastern Havana”, – stated in the draft agreement.

The Ministry of Finance instructed to sign an agreement with Cuban officials following the talks.

Also the Cabinet of Ministers of the Russian Federation has approved the draft agreement on granting Cuba a loan of $100 million for the modernization and expansion of metallurgical plant “Antillana de Acero. Jose Marti”.